Gold forecast
Comex Gold ( xauusd ) price trading at 1226$ . Last night it crashed from 1232$ till 1224$ . A good support on daily chart stands at 1217$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect gold prices to take more hit upto 1208$ – 1200$ today .
A good resistance on daily chart stands at 1236$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some breather to bulls upto 1244$ – 1251$ today .
Gold forecast conclusion : Comex Gold trend is weak for now .
Silver forecast
Comex Silver ( xagusd ) price cracked from 17.90$ range till 17.70$ odd zone last night . Currently prices are trading at 17.75$ . A good base level on daily chart stands at 17.50$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect silver prices to test upto 17.30$ – 17.05$ today .
A good hurdle on daily chart stands at 17.92$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 18.15$ – 18.44$ today .
Silver forecast conclusion : Comex xagusd trend is weak for now .
We have US trade balance data today . Stay cautious .
More will update to our trading signals subscribers .